Bitcoin At $20K by New Year? These Two “Important” Indicators Say So

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A short-term slipover in recent sessions has not refrained Bitcoin from eyeing $20,000 by the end of this year. Independent financial analysis firm TradingShot wrote in its recent analysis that it sees the cryptocurrency recovering its all-time high in 2020. The agency cited two technical setups that have dictated the Bitcoin price behavior in the last 1.5 years, adding that their validation for the rest of this year could push the cryptocurrency towards $20,000. Bitcoin Confluence The first of these technical indicators is a Hyperbola – a long arc that has acted as Bitcoin’s resistance since June 2019. This year, the cryptocurrency repeatedly tried to break above the curvy structure, with the latest attempt going as back as November 5, 2020. Meanwhile, the Hyperbola resistance received additional strength from Pitchfork, the second technical indicator containing a string of Fibonacci levels acting as supports and resistances during Bitcoin’s uptrend. The chart…

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